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ASSIGNMENT AND ASSUMPTION
<br />OF GARAGE -RELATED AGREEMENTS
<br />This Assignment And Assumption Of Garage -Related Agreements (this "Assignment")
<br />dated as of September 27, 2016 (the "Effective Date"), is entered into by and between the City of
<br />South Bend, acting by and through its Board of Public Works (the "Board"), and the City of
<br />South Bend, Department of Redevelopment, acting by and through its governing body, the South
<br />Bend Redevelopment Commission (the "Commission") (each a "Party" and collectively the
<br />"Parties").
<br />RECITALS
<br />A. The City of South Bend (the "City"), through its governing bodies, has
<br />constructed, equipped, maintained, and operated the parking facilities located at 126 N. Main
<br />Street (the "Main Street Garage"), 109 W. Jefferson Boulevard (the "Leighton Garage"), and 121
<br />E. Wayne Street (the "Wayne Street Garage") (collectively, the "Garages").
<br />B. The Board holds equitable title to the Main Street Garage and the Leighton
<br />Garage.
<br />C. By the warranty deed dated September 15, 2016, which the Board accepted on
<br />September 27, 2016, as stated in Resolution No. 44-2016, the Commission conveyed to the
<br />Board legal title to the Wayne Street Garage.
<br />D. Consistent with the consolidation of the Board's ownership of the Garages, the
<br />Commission desires to assign to the Board all of the Commission's rights, interests, and
<br />obligations in, to, and under certain agreements with respect to the Garages, and the Board
<br />desires to accept the assignment thereof and assume the Commission's rights, interests, and
<br />obligations thereunder.
<br />NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
<br />which are hereby acknowledged, the Parties agree as follows:
<br />AGREEMENT
<br />1. Assignment. The Commission hereby transfers, assigns, and conveys, all of the
<br />Commission's rights, interests, and obligations in, to, and under the following agreements
<br />(collectively, the "Assigned Agreements"):
<br />(a) Ground and Airspace Lease by and between the Commission and Leighton
<br />Plaza Offices, LLC, as successor -in -interest to Riggs & Company, a
<br />division of Riggs Bank N.A., trustee of the Multi -Employer Property
<br />Trust, dated March 6, 1998, attached hereto as Exhibit 1 (for property
<br />located at 130 S. Main Street and adjacent to and above the Leighton
<br />Garage);
<br />(b) Ground Lease by and between the Commission and Memorial Hospital of
<br />South Bend, Inc., dated January 23, 1998, attached hereto as Exhibit 2 (for
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